Britain and India Sign Landmark Free Trade Agreement
Historic pact to slash tariffs and boost trade by £25.5 billion by 2040
Britain and India have signed a Comprehensive Economic and Trade Agreement hailed as the most significant bilateral trade deal since Brexit, offering sweeping tariff cuts and expanded market access.
Under the terms, tariffs on British goods entering India will drop from an average of 15 percent to 3 percent, with duties on Scotch whisky, gin, cars and cosmetics easing dramatically over time.
In exchange, nearly 99 percent of Indian exports to the UK will gain duty‑free access.
The deal is expected to boost bilateral trade by around £25.5 billion annually by 2040, while adding roughly £4.8 billion to UK GDP and increasing wage income by £2.2 billion per year.
It also includes enhanced access for UK services firms, a social security agreement for temporary Indian workers, and cooperation in defence, climate and crime sectors.
Under the terms, tariffs on British goods entering India will drop from an average of 15 percent to 3 percent, with duties on Scotch whisky, gin, cars and cosmetics easing dramatically over time.
In exchange, nearly 99 percent of Indian exports to the UK will gain duty‑free access.
The deal is expected to boost bilateral trade by around £25.5 billion annually by 2040, while adding roughly £4.8 billion to UK GDP and increasing wage income by £2.2 billion per year.
It also includes enhanced access for UK services firms, a social security agreement for temporary Indian workers, and cooperation in defence, climate and crime sectors.
